Marketline Report for Friday, September 13th
This is Bob Larson with the Market Line Report for Friday, Sep 13th. The WASDE report looks a little bearish for corn traders on Thursday. From the floor of the CME in Chicago, here's Scott Shellady.
SHELLADY ... "Well, it wasn't overly bullish, that's for sure. First off, let's talk numbers. We were expecting a yield of around 166.9-167 we'll call it. We got a 168.2 from the government. So, that's bigger, more corn, bigger production numbers as well. So, if we got more production and more bushels-per-acre, that's going to be a black cloud or weigh heavy on the market here. But, this type of thing is a great example for our young traders to learn about because unless you get new sellers to come to the market, sometimes these things end up squeezing as people cannibalize themselves trying to get out. This is great example of that."
Chicago Sept Wheat prices closed yesterday up 8 ¼ at 489
Sept Corn was up 6 ¼ at 353 ¾
Portland prices for soft white wheat of Ordinary Protein for Sept ended the day unch ranging from 5-70 to 5-80 Hard Red Winter wheat with 11 ½ % protein, prices for Sept were up 5 ranging from 5-33 ½ to 5-43 ½ DNS wheat with 14 % protein, prices for Sept were up 5 ranging from 5-82 ¼ to 5-87 ¼
Live Cattle for Oct were up $.22 ½ at 98.70 Sept Feeder cattle are up $.77 ½ to 136.97 ½ Sept Class III milk was up .01 cents at 18.30
